PLNT - Planet Fitness sets three-year financial targets

2023-06-07 06:59:03 ET

Planet Fitness ( NYSE: PLNT ) reaffirmed the company's full-year guidance as part of an investor presentation on Wednesday.

As part of its presentation, Planet Fitness ( PLNT ) said it is prioritizing high-return investments and will stay committed to an asset-light model. Annual share repurchases are expected to be at a minimum of 1M shares.

For 2023, Planet Fitness ( PLNT ) expects 13% to 14% revenue growth and 17% to 18% adjusted EBITDA growth. EPS is seen rising 33% to 36%. Capital expenditures are forecast to be at a mid-30% clip.

New three-year financial targets from Planet Fitness ( PLNT ) were for revenue growth in the low-to-mid teens, AEBITDA growth in the high teens, and AEPS growth in the low-to-mid 20% rate.

Shares of Planet Fitness ( PLNT ) fell 1.35% in premarket trading to $66.95.

More on Planet Fitness:

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• Planet Fitness compared to sector peers
• Seeking Alpha's Quant Rating for Planet Fitness

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